Goldman Sachs Q3 Profit Down

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The FINANCIAL — Goldman Sachs Group, Inc. reported that its net earnings applicable to common shareholders for third-quarter 2015 decreased to $1.33 billion or $2.90 per share from $2.14 billion or $4.57 per share in the same quarter last year.

Analysts polled by Thomson Reuters expected the company to report earnings of $2.91 per share for the quarter. Analysts’ estimates typically exclude special items.

Net revenues, including net interest income, for the quarter declined to $6.86 billion from $8.39 billion in the prior year quarter. Wall Street expected revenues of $7.12 billion for the quarter, according to Goldman Sachs.

“We experienced lower levels of activity and declining asset prices during the quarter, reflecting renewed concerns about global economic growth,” said Lloyd C. Blankfein, Chairman and Chief Executive Officer. “We continue to see strong levels of activity in Investment Banking and growth in Investment Management, and looking ahead, are encouraged by the competitive positioning of our global client franchise. Our focus on serving our clients and improving operating leverage puts us in a strong position to generate superior returns for our shareholders.”

On October 14, 2015, the Board of Directors of The Goldman Sachs Group, Inc. declared a dividend of $0.65 per common share to be paid on December 30, 2015 to common shareholders of record on December 2, 2015.

 

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